RT Journal Article
SR Electronic
T1 An Overview of GSE Reform
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 35
OP 46
DO 10.3905/jsf.2016.22.1.035
VO 22
IS 1
A1 Andrew Davidson
YR 2016
UL https://pm-research.com/content/22/1/35.abstract
AB Fannie Mae and Freddie Mac, the mortgage securitization government-sponsored enterprises (GSEs), have been in conservatorship since 2008. This article looks at various proposals to reform the securitization process for conventional mortgages using the format of a bingo board. The bingo board format offers an overview of the primary functions of the securitization process and what entities can provide those services. GSE reform proposals have mirrored the structure of the private-label mortgage market and the government mortgage market. In the absence of congressional action, Fannie Mae and Freddie Mac have been significantly transformed by their regulator. The transformed entities may be a basis for future reform.TOPICS: MBS and residential mortgage loans, financial crises and financial market history